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Arabtec Holding, a leading construction group, has entered into a definitive agreement to increase its stake in Target Engineering, a top EPC contractor to 98 per cent, with senior management retaining the remaining two per cent stake.

Dubai-based builder Arabtec will buy the 40-percent stake in Target Engineering it does not already own to expand its move into the oil and gas construction business, two sources with knowledge of the deal said.
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An Arabtec Holdings unit has won three contracts in Qatar and the United Arab Emirates worth $137.22 million, the Dubai builder said on Monday
The largest of the contracts, worth a combined Dh504 million, is from Qatar Petroleum for

A unit of Dubai-based Arabtec Holding has won a 206 million UAE dirham ($56.08 million) construction contract for the Shah Gas development project in Abu Dhabi, the company said.
Target Engineering Construction Co would start work on the p